In November, Lyft announced it was joining an alliance of companies looking to help their users decarbonize, building on a 2020 commitment to achieving 100% electric vehicles by the end of 2030, according to Yahoo News.
The ride-hailing company has unveiled the steps it takes to achieve the goal. It laid out some sizable financial incentives to aid its drivers in shifting to electric vehicles.
Electrifying our transportation network is a crucial step in helping reverse the negative impacts of climate change. We know many drivers on Lyft want to switch to EVs, which is why we’re focused on addressing the biggest barriers they face in transitioning: upfront costs and access to charging.
Paul Augustine, Lyft’s director of sustainability
EV drivers to earn an extra $150 weekly
Until the end of 2024, EV drivers in California could earn an additional $150 weekly if they complete 50 Lyft rides. The bonus maxes out at $8,100.
Percentage discount at EVgo fast-charging stations
Lyft drivers in the country could get less expensive charging on the road. At EVgo fast-charging stations, they get a percentage discount of up to 45% off for anyone that has Gold and Platinum rewards status on the platform.
Percentage discount at non-EVgo charging stations
At non-EVgo public charging stations, Lyft drivers could use Lyft’s debit card (Lyft Direct) to get 1%-7% cash back. Higher amounts would go to higher-rewards-status drivers, as with the EVgo discounts.
Moreover, drivers can charge at home with help from Lyft. The company offers a $140 discount off Level 2 chargers from partner Wallbox.
Lyft’s pre-negotiated rates with Coil
The company’s Pulsar Plus 48A charger is at $699, so it allows 20% savings. In addition, consumers can get cheaper installations via pre-negotiated rates with electrical installer Coil.
Not all drivers may want to purchase an EV due to the expense. Lyft plans to include more electric vehicles in its Express Drive program, enabling its drivers to rent vehicles.
Lyft works with Hertz and Flexdrive
Lyft is working with its partners, Hertz and Flexdrive, to add what it said would be “thousands of new EVs from Hyundai, Kia, Ford, Polestar and others” next year. Drivers renting in Express Drive have access to the EVgo charging discounts.
This provides drivers with a low-cost, low-commitment alternative to purchasing their own EV.
Lyft
Guiding drivers for government tax credits, EV benefits
For drivers who want to buy rather than rent, Lyft benefits stack on top of incentives in the Inflation Reduction Act (IRA). Tax credits for buying EVs depend on income, whether the vehicle is new or used, and the maximum manufacturer’s suggested retail price.
Furthermore, in 2024 and 2025, manufacturing and assembly requirements for qualifying electric vehicles and their batteries will be more strict.
Benefits of driving an electric vehicle
Lyft has also launched an educational webpage to help drivers identify which rebates, credits, and more are available to them. Through the website, the company also notes the benefits of driving EVs:
- EVs could save owners fuel and maintenance costs annually. Combined with financial incentives, EVs can be less expensive to own over their lifespan.
- New EVs get a median of 234 miles (376 km) in driving range on a single charge. That covers the 90% of Lyft drivers who travel less than 230 miles (370 km) daily.
- EVs can boost a driver’s bottom line. Though tipping depends on many factors, including neighborhood and the car’s age, according to Lyft’s nationwide data, from January through November of 2022, EV drivers earn 40% more in tips per ride.
In an email to Canary Media, the ride-hailing company explained why it is crucial that ride-hail vehicles go electric: They travel 3-5 times as many miles as personal vehicles yearly, so electrifying a ride-hail vehicle is like electrifying three personal vehicles, according to the UC Davis National Transportation Center.
